Schrodinger (SDGR) to Raise $150 Million in IPO

Schrodinger (SDGR) is planning to raise $150 million in an initial public offering (IPO) on Thursday, February 6th, IPO Scoop reports. The company will be issuing 10,000,000 shares at $14.00-$16.00 per share.

In the last 12 months, Schrodinger generated $77.2 million in revenue and had a net loss of $24.2 million. The company has a market-cap of $893.5 million.

Morgan Stanley, BofA Securities, Jefferies and BMO Capital Markets acted as the underwriters for the IPO.

Schrodinger provided the following description of their company for its IPO: ”  Our differentiated, physics-based software platform enables discovery of high-quality, novel molecules for drug development and materials applications more rapidly, at lower cost, and with, we believe, a higher likelihood of success compared to traditional methods. Our software is used by biopharmaceutical and industrial companies, academic institutions, and government laboratories around the world, and we are the leading provider of computational software solutions for drug discovery. We also apply our computational platform to a broad pipeline of drug discovery programs in collaboration with biopharmaceutical companies, some of which we co-founded. In addition, we are using our platform to advance a pipeline of internal, wholly-owned drug discovery programs. “.

Schrodinger was founded in 1990 and has 392 employees. The company is located at 120 West 45th Street, 17th Floor, New York, NY 10036, US and can be reached via phone at (212) 295-5800 or on the web at http://www.schrodinger.com.

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